Biden imposes new Methane emissions tax on way out of White House [Video]

President Joe Biden’s Environmental Protection Agency finalized a new rule Tuesday, taxing methane emissions from the oil and gas sector.

The new tax was born out of Biden’s sweeping climate legislation passed by Congress, known as the Inflation Reduction Act, which included a Waste Emissions Charge provision. Although the waste emissions charge was mandated by Congress, the Biden administration had discretion on how tightly to clamp down. 

The fee will start at $900 per metric ton of methane emitted over a specific performance level during 2024. In subsequent years, the fee will increase. In 2025, it will grow to $1,200 per metric ton. In 2026, it will increase to $1,500 per ton. Meanwhile, each subsequent year after that, the fee will continue to rise, according to the EPA.

BIDEN ADMIN SAYS CLIMATE CHANGE POSES NATIONAL SECURITY RISKS, SENDS DELEGATION TO ADDRESS THEM

“The final Waste Emissions Charge is the latest …